Believe it or not, despite the growing popularity of digital payments, cash transactions are still preferred over any other payment medium. Due to various reasons, a deep level of trust is ingrained within most consumers with respect to cash transactions.
Not to mention, there is a sense of transparency with cash transactions, and it gives immediate satisfaction with the feeling of cash in hand.
Irrespective of whether you are an individual owner of a retail store, or someone running a chain of retail stores, how will you retain your customers for a longer period of time while ensuring more sales?
The answer is simple, by purchasing ATM(s).
Regardless of what your retail business is - grocery, drug, department or convenient store – you are bound to have a need for an ATM at this point, within your store or someplace nearby.
If located correctly, an ATM(s) has a significant tendency to boost your revenues and build a long-term and loyal relationship with your regular and potential consumers. According to a recent survey, consumers end up spending 25% of the amount withdrawn immediately.
What’s in it for You?
Lets’ take an example of an individual retailer who is operating in one location, with mediocre profits or breakeven at times, and now that retailer decides to purchase an ATM for his store. Most likely implications of this choice will be that his customers will stay for longer durations in his store, without worrying about finding an ATM to get the cash they need.
More importantly, when potential customers will pass by his store and for the sake of convenience, they will choose the store’s ATM to withdraw cash, and then the customer’s are most likely to buy something from the withdrawn amount immediately.
This will not only result in faster conversions, but it will result in an increase in revenue from which the retailer can expand his operations. With expanded operations, to another locality, people from that locality are bound to follow the same trend as before, leading to a chain reaction. The results can magnify when applied to retail chain stores.
The best part about purchasing an ATM today is that retail owners don’t even have to worry about all the hassle of purchasing a machine. Unlike conventional electronics that we buy and end up paying extra amounts for the delivery and installation, ATM service providers do that for free to help their clients.
All those worries like delivery, installation, operation, and maintenance are handled tremendously well by service providers, such as Mobile Money. Moreover, such service providers also deal with all the essential, yet time-consuming tasks of replenishing, securing monitoring, and real-time reporting.
Even though the services can vary from one service provider to another, they still provide the necessary ease that retailers need to focus on their business without having to worry about anything related to their new purchase.
Furthermore, retail ATM purchase provides an opportunity for their owners to earn passive income for themselves. Usually, the surcharge may vary from $2 to $3 on every transaction; however, if you have purchased an ATM, then you can set the charges as per your own discretion, within the legal limits of course.
The percentage of the surcharge may vary from one service provider to another; however, Mobile Money gives a chance to earn 100% surcharge, with no monthly fees and hidden costs.
How to Buy an ATM Machine?
That’s easy, contact a service provider of your choice. Let them know all the details they require, from your desired location(s) and placement preference(s) to the amount of traffic in your store(s).
These details will allow them to recommend you the most appropriate ATM(s) for your operation(s), and you can even call them if you need to add anything later, and voila! You’ve got yourself your very own ATM.